How much loan can i qualify for calculator
- what is my mortgage borrowing capacity
- what is my home loan borrowing capacity
- what is my mortgage borrowing power
- what is my borrowing capacity calculator
How much can i borrow for a mortgage based on my income.
The 'How Much House Can I Afford'
Borrowing Power Calculator
To help you determine how much house you can afford, our calculator starts with a couple of primary pieces of information:
- Household income
- Monthly debts (for example: car payments, student loans, credit card payments)
**Please note you can always add other incomes or debts into the calculator to get a more accurate assessment.
Based on these two pieces of information, our calculator will work it's magic to determine how much house you may be able to afford.
How do banks calculate mortgage affordability
While we strongly encourage you to have a conversation with a Loan Officer to review your specific financial situation and needs, we hope that this tool will help you get started with the process.
Factors that contribute into the borrowing power calculation:
Income: Enter your total household income (you can also include a co-borrower) before tax.
In most cases, income from commissions, bonuses, overtime, tips, rental income, and child support can all be counted toward your annual income.
Debt: Include your (and your co-borrower's) monthly debts. De
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